The authorities closed the bank on Friday.
(Photo: AP)
new York The Silicon Valley Bank was closed at record speed on Friday. The bank run shocked investors around the world. German financial stocks also slipped significantly into the red. Meanwhile, FDIC regulators are trying to find buyers for parts of the bank and to compensate customers. The most important answers to the topic:
What are the consequences of bankruptcy for start-ups?
Gary Tan, head of the famous start-up forge Y-Combinator, finds drastic words: The bankruptcy of the Silicon Valley Bank (SVB) could “wipe out” a whole series of start-ups, he warned on Friday on the US stock exchange channel CNBC. The bank was the main financial institution for young tech companies. Anyone who has not withdrawn their money in time can no longer access their account.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Further
Read on now
Get access to this and every other article in the
web and in our app.
Further